Proactis confident on future prospects

PROACTIS, the AIM-listed spend control software provider, said today it is confident of its continuing prospects for growth for the coming year.

Updating the market on trading for the year to July 31, the Wetherby-based business, which sells and maintains specialist software which enables organisations to streamline, control and monitor all internal and external expenditure, other than payroll, said that results are expected to be in line with current market expectations, with revenues of £8m, adjusted EBITDA of £1.3m and adjusted profit before tax of £0.6m.

Proactis said the group’s cash position at the end of July was approximately £2.4m and the group remains debt free.

The company said: “The group starts the new financial year with an order book in excess of £6.0m and a healthy pipeline of new deal opportunities.”

Chief executive Rod Jones said: “The past year has been significant for Proactis. With our shift toward a blended SaaS/Cloud and perpetual licensed business model just completing its third full year, we are seeing the realisation of the reliable profits that we had planned for.

“Our commitment to building an enhanced product remains and we are continuing to receive plaudits from the market on its breadth and depth. Our pipeline of prospects remains solid and we are confident that we will extend our already strong position within the Spend and eProcurement market place.”

The group’s results for the year ended July 31 will be announced on or around October 2.